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March 1, 2022

Victoria’s Secret aims to close gender investment gap with US$7m boost

Victoria’s Secret & Co. is to pump US$7m into a partnership with Amplifyher Ventures to identify and provide women entrepreuners greater access to capital and growth opportunities.

By Hannah Abdulla

Victoria’s Secret and women-owned Amplifyher Ventures will partner to help close the gender investment funding gap by championing existing and up-and-coming women entrepreneurs; creating opportunities for women investors, business founders, and leadership teams to thrive; and ensuring women are represented in companies from the ground up.

The initiative builds on the brand’s continued vision as an independent company to be the world’s leading advocate for women, which includes empowering women in their careers and as leaders.

The announcement from Victoria’s Secret suggests there is still a gender investment funding gap despite decades-long calls from the business and financial community to increase women’s access to business capital.

“As a company whose associate base is nearly 90% women, ensuring that women are represented and supported in their careers is extremely important to us,” said Martin Waters, CEO, Victoria’s Secret & Co, adding “we’re proud to make this investment in women with Amplifyher Ventures and help address the critical gender funding gap. With Amplifyher we are championing women entrepreneurs who are already leading the way and also supporting them in paving the way for the next generation of women founders.”

“We admire how Victoria’s Secret is fostering community to become a leading advocate for women,” says Meghan Cross, Partner at Amplifyher Ventures. “At Amplifyher, we work closely with our portfolio of under-represented founders who have a unique ability to deliver outsized returns through network-driven flywheel effects of growth.”

Earlier this year, Victoria’s Secret & Co and lingerie maker Regina Miracle formed a joint venture to operate all Victoria’s Secret stores and the related online business in China.

L Brands, which owns the Victoria’s Secret and Bath & Body Works businesses, spun Victoria’s Secret off into an independent company last year and renamed it Victoria’s Secret & Co.

L Brands said the spin-off creates two industry-leading, highly focused retailers with distinct strategic and management focus on specific operational and growth priorities.

The new company houses Victoria’s Secret Lingerie, Pink, and Victoria’s Secret Beauty brands.

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